Is homeownership right for you?

Is homeownership right for you?

Before you buy your first home, you have to know yourself and know what you want.

Here are a few questions to help you get started:

  1. Do you like to move a lot?
  2. Do you prefer to use your savings to carry out your projects, such as travelling or buying the car of your dreams?
  3. Do you appreciate the fact that you don’t have to worry about regular maintenance?
  4. Do your financial obligations keep you awake at night?

If you answered “yes” to any of these questions, then perhaps you’re not ready to buy a home. Even if you have several good reasons to do so, you also have to take into account the reasons why you may not want to.

Remember that buying a home is one of the most important emotional and financial decisions of your life. You must prepare yourself to make a knowledgeable decision.

Tip: List the advantages and disadvantages before you make a decision.

Advantages of renting / Disadvantages of buying

Examples :

  1. I don’t have to mow the lawn.
  2. I don’t have to take care of any repairs that might be needed.

Advantages of buying / Disadvantages of renting

Examples :

  1. I’ll have a yard where my kids can play.
  2. I can modify my home if I want to.
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